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India and China

Name: Anonymous 2010-01-02 5:09

I'm no economist, but I do know a bit about history

so how is it that these two countries are growing so rapidly?

I can understand China and it opening up the three policies or some shit in the 90's, making the country more capitalist

India, I don't get so much. Same deal? How is it that these two countries are rising up?

Also, what role does the US play in this? Again, I'm no economist, but I assume that we've been exporting jobs to these countries ever since the collapse of the USSR and the de-colonization of these countries?

De-colonization because of cheap labor, and the USSR because....well, come to think of it, no, scratch that. India was neutral, and China, well, they still ARE communist.

TL;DR some explain india and china to me

Name: Anonymous 2010-01-02 9:56

Long story short China and India are catching up technologically.

They took so long to begin doing so because putting technology into practice is far more difficult than simply learning about it. Up until the 70s they were experiencing too much political instability to begin making expensive investments without risk of losing them, after order was restored they were too poor to immediately start making all the expensive investments in infrastructure, education and industry needed and after the investments were made there was no guarantee they would be productive and new businesses take years to properly develop.

Of course they are growing faster because they do not need to invest in research as the west has had to do for the past 200 years and also foreign investment and trade, China more so than India due to it's proximity to Japan and the USA.

Name: Anonymous 2010-01-02 11:30

>>1
India was a Soviet client during the Cold War, voted with the Soviet bloc 99.999% of the time in the UN, and their military is still armed almost entirely with Soviet hardware, especially when we talk about the big-ticket items like armored vehicles, artillery pieces, or jet aircraft.

Name: Anonymous 2010-01-02 12:01

>>3
Well, what I meant by that was, China being a communist state has nothing to do with its recent MONEYZ

It would if they were no longer communist and we started investing there once Communism fell, but it didn't, and the only thing that changed was that THEY were the ones who introduced a bit of capitalism.

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